Clessidra acquires 35% stake in Harmont & Blaine

Italian newspaper La Repubblica puts the value of the deal at between €40-50m, with an official figure expected this autumn once the transaction has completed.

The fresh capital will enable Harmont & Blaine, which currently focuses on menswear, to expand internationally and move into womenswear.

Harmont & Blaine has plans for a flotation at some point between 2017 and 2018, and hopes to almost triple its revenue to €200m by the end of 2017. It also aims to increase the share of revenues generated from outside Italy – which currently account for 20% of its sales – to 60% within the same period.

According to Reuters, Clessidra's 35% stake makes the GP the largest shareholder in the company, giving it the power to name a chief executive should it wish to do so.

Company
Naples-based Harmont & Blaine is a producer of casual menswear. The brand currently has 69 outlets in Italy with a further 70 across Europe.

Harmont & Blaine generated a turnover of €71m in 2013.

People
Domenico Menniti is CEO of Harmont & Blaine. Claudio Sposito is president, CEO and chairman of Clessidra.

Advisers
Equity – Deloitte (Corporate finance); Boston Consulting Group (Other due diligence); Studio Pavesi Gitti Verzoni (Legal).
Company – UBS Corporate Advisory (Corporate finance); Bonelli Erede Pappalardo (Legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• Consumer
• Southern Europe
• Clessidra Capital Partners
• Italy